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Australia, NZ dollars find support, market ponders rate outlook

Australia, NZ dollars find support, market ponders rate outlook By Wayne Cole SYDNEY, Nov 28 (Reuters) - The Australian and New Zealand dollars found some support on Thursday as a drop in Treasury yields hindered their U.S. counterpart, while investors pondered the rapidly diverging path of domestic interest rates. The Aussie held at $0.6498 AUD=D3 , having edged up 0.4% overnight and away from a four-month low of $0.6434. Resistance now lies around $0.6550. It fared less well on the yen, losing
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Financial Times - Nov 28

PRESS DIGEST- Financial Times - Nov 28 Nov 28 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - UK car insurer Direct Line rejects £3.3bn takeover offer by Aviva - Mauritius raises concerns about UK plan to cede sovereignty over Chagos Islands - UK watchdog fines former Wizz Air executive for secret share trading - Michael Ellam tapped up to be UK's next 'EU sherpa' Overview - UK car in
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Australia, NZ dollars find support, market ponders rate outlook

Australia, NZ dollars find support, market ponders rate outlook By Wayne Cole SYDNEY, Nov 28 (Reuters) - The Australian and New Zealand dollars found some support on Thursday as a drop in Treasury yields hindered their U.S. counterpart, while investors pondered the rapidly diverging path of domestic interest rates. The Aussie held at $0.6498 AUD=D3 , having edged up 0.4% overnight and away from a four-month low of $0.6434. Resistance now lies around $0.6550. It fared less well on the yen, losing
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Strike Energy Announces South Erregulla Peaking Gas Power Station FID

BRIEF-Strike Energy Announces South Erregulla Peaking Gas Power Station FID Nov 28 (Reuters) - Strike Energy Ltd STX.AX : SOUTH ERREGULLA PEAKING GAS POWER STATION FINAL INVESTMENT DECISION SOUTH ERREGULLA WILL TRANSITION INTO EXECUTION PHASE WITH A$137 MILLION BUDGETED DEVELOPMENT COST Further company coverage: STX.AX

Bank of Korea unexpectedly cuts rates for second straight meeting

INSTANT VIEW-Bank of Korea unexpectedly cuts rates for second straight meeting SEOUL, Nov 28 (Reuters) - South Korea's central bank unexpectedly cut interest rates by 25 basis points to 3.00% on Thursday, delivering its first back-to-back cuts since the Global Financial Crisis of 2008-2009. COMMENTS: CHO YONG-GU, ECONOMIST, SHINYOUNG SECURITIES "This is a surprise in terms of consensus, and it's not a surprise in terms of reflecting market interest rates, which have come down by almost 50 bps in

British Business - Nov. 28

PRESS DIGEST-British Business - Nov. 28 Nov 28 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Britain’s biggest wealth manager St James’s Place is abandoning commercial property as an asset class after deciding to wind down three funds with 1.84 billion pounds ($2.33 billion) invested in office blocks, shopping centres and other real estate.
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South Korea makes first back-to-back rate cuts since 2009

UPDATE 1-South Korea makes first back-to-back rate cuts since 2009 By Cynthia Kim and Jihoon Lee SEOUL, Nov 28 (Reuters) - South Korea's central bank cut benchmark interest rates for a second straight meeting on Thursday in a surprise move as the economy stalled and inflation slowed more than policymakers predicted. The Bank of Korea (BOK) lowered its benchmark interest rate KROCRT=ECI by a quarter percentage point to 3.00% at its monetary policy review, an outcome only four of 38 economists pol

Australia's Webjet skids on being sued over false flight price claims

BUZZ-Australia's Webjet skids on being sued over false flight price claims ** Webjet WJL.AX slips as much as 13% to A$0.735, lowest since Nov. 5 ** Stock logs worst session since Nov. 20 ** Travel firm sued by Australian competition watchdog ACCC , alleging co misled consumers about flight prices and bookings ** Stock down 18.6% vs opening price on

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit By Stephen Nellis Nov 27 (Reuters) - Intel INTC.O said on Wednesday its deal for $7.86 billion in U.S. government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity. The U.S. Commerce Department announced the subsidy to Intel on Tuesday, part of $39 billion for the sector including Taiwan Semiconductor Manufacturing Co 2330.TW and others in an effort to rev
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LVMH chief Bernard Arnault to testify in France spy trial

LVMH chief Bernard Arnault to testify in France spy trial PARIS, Nov 28 (Reuters) - LVMH LVMH.PA Chairman and CEO Bernard Arnault is set to testify at a Paris court on Thursday in the trial of France's former spy chief Bernard Squarcini, a case that has cast light on the lengths to which the world's biggest luxury group has allegedly gone to protect its image.
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Adani allegations shine spotlight on India's clean energy conundrum

ANALYSIS-Adani allegations shine spotlight on India's clean energy conundrum India still 10% short of 2022 renewables target Rise in renewables bids leaves 30 GW without contracts India aims to raise clean power capacity to 500 GW by 2030 By Sudarshan Varadhan, Sethuraman N R NEW DELHI, Nov 28 (Reuters) - Bribery allegations against Adani Group founder Gautam Adani have highlighted the growing problem India's renewable energy developers face in finding buyers for the power they generate.

NZ's Fisher & Paykel Healthcare tumbles as HY profit misses estimates

BUZZ-NZ's Fisher & Paykel Healthcare tumbles as HY profit misses estimates ** New Zealand's Fisher and Paykel Healthcare FPH.NZ sheds as much as 5.3% to NZ$36.38; biggest intraday pct decline since May 26, 2023 ** Medical devices maker's Australia-listed stock FPH.AX drops as much as 4.6% to A$32.97, lowest since Nov. 7 ** Posts HY net profit after
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Australian shares reach for record high as banking stocks gain

Australian shares reach for record high as banking stocks gain Nov 28 (Reuters) - Australian shares rose close to a record high on Thursday, led by banking stocks, a day after data showed the country's consumer price inflation rate stayed at a three-year low in October. The S&P/ASX 200 index .AXJO rose 0.5% to 8,445.1, as of 2350 GMT, just 17 points shy of an all-time high it reached earlier this week.
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Australia's hot jobs market keeps rate cuts out of reach

ANALYSIS-Australia's hot jobs market keeps rate cuts out of reach Australia's employment growth outpaces U.S., euro zone Labour shortage still prevalent in care sector, big jobs driver Demand for workers still running hot even with higher supply Rate cut not fully priced in until May 2025 By Stella Qiu SYDNEY, Nov 28 (Reuters) - Australia's world-beating labour market is one of the main obstacles stopping the country's central bank from joining global peers in reversing the most aggressive polic
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South Korea's central bank unexpectedly cuts rates by 25 bps

South Korea's central bank unexpectedly cuts rates by 25 bps SEOUL, Nov 28 (Reuters) - South Korea's central bank cut policy interest rates for a second straight meeting in a surprise move as the economy stalled and inflation slowed more rapidly than policymakers predicted. The Bank of Korea (BOK) lowered its benchmark interest rate KROCRT=ECI by a quarter percentage point to 3.00% at its monetary policy review, an outcome only four of 38 economists polled by Reuters expected.

Insurance Australia Group at nearly 5-1/2-year high on A$855 mln deal

BUZZ-Insurance Australia Group at nearly 5-1/2-year high on A$855 mln deal ** Insurance Australia Group IAG.AX gains as much as 5.6% to A$8.64, highest since July 31, 2019 ** Stock among top gainers on benchmark ASX 200 index .AXJO ** Insurer to enter 25-year exclusive strategic alliance with Royal Automobile Club of Queensland (RACQ), which provid
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Euro jump, rising yen put brakes on the dollar

FOREX-Euro jump, rising yen put brakes on the dollar By Tom Westbrook SINGAPORE, Nov 28 (Reuters) - The euro clung to its sharpest rise in four months on Thursday following hawkish remarks from a central bank policymaker, while the yen powered toward its strongest week in three months on growing bets Japan could hike interest rates in December. The moves stalled the dollar's resurgence ahead of what is likely to be thin trade through the rest of the week due to the U.S.
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New Zealand's Tower up on strong full-year results

BUZZ-New Zealand's Tower up on strong full-year results ** Shares of Tower TWR.NZ rise as much as 3.1%, hitting its highest level since Nov. 12 ** The general insurer reports FY24 profit of NZ$74.3 million ($43.78 million), compared with a loss of NZ$1 million recorded in FY23 ** Declares final dividend of 6.5 NZ cents per share ** TWR conditionall

Gold prices held steady amid growing tariff war fears

PRECIOUS-Gold prices held steady amid growing tariff war fears Nov 28 (Reuters) - Gold prices were steady on Thursday, as investors digested a flurry of economic data in the previous session and evaluated the possibility of a tariff war sparked by U.S. President-elect Donald Trump's policies. FUNDAMENTALS * Spot gold XAU= was flat at $2,636.35 per ounce, as of 0013 GMT.
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Australia's AVJennings at more than 6-year high on $242 mln buyout offer

BUZZ-Australia's AVJennings at more than 6-year high on $242 mln buyout offer ** Shares of AVjennings AVJ.AX leap as much as 97% to A$0.650; highest since March 28, 2018 ** Stock logs record intraday pct gain ** Property developer gets takeover offer from investing firm Proprium Capital Partners (Australia) and peer AVID Property Group, valuing it

BlackRock has deal to buy private credit manager HPS, FT reports

UPDATE 1-BlackRock has deal to buy private credit manager HPS, FT reports Adds further details from the report in paragraph 2, background in paragraphs 4-7 Nov 28 (Reuters) - BlackRock BLK.N has a handshake deal to buy private credit group HPS Investment Partners, the Financial Times reported on Wednesday. The final deal value would be closer to $12 billion, which offers a significant premium over HPS's post-IPO valuation of $10 billion, the report said, citing two sources familiar with the matt



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